Headquarters: 235 East 42nd St
New York, NY 10017
CEO: Ian Read
Stock Symbol: PFE
Pfizer is the world's largest pharmaceutical company selling both prescription and over-the-counter medicines for humans and animals. The company's well-known drug store products include Advil, Caltrate, Centrum, ChapStick, Robitussin, Thermacare. Pfizer's top prescription medicines include Lipitor, Viagra, Lyrica, Norvasc, Sutent and Celebrex.
In 2014, Pfizer reported revenues of $49.6 billion, a 4% decline from the previous year. Net income was $9.13 billion, down 58%.
Ian Read, Chairman and Chief Executive Officer, said, "During 2014, despite significant continued revenue headwinds from product losses of exclusivity and co-promote expiries, we were able to deliver modest adjusted diluted EPS growth. This was achieved through a combination of incremental revenue generation from key in-line products and recent product launches, responsible expense management as well as supportive capital allocation."
"We continued to focus on strengthening our innovative core and have made notable progress in this area through both internal advancements and strategic business development. As we look forward to 2015, we expect continued momentum with our pipeline, notably the potential U.S. approval of Ibrance (palbociclib) for advanced breast cancer, as well as anticipated strong growth in emerging markets and from our recent product launches in developed markets, including Eliquis, Xeljanz, Prevnar 13 in adults and Nexium 24HR. We are now in a position to commence over 20 registrational studies during the coming four years with candidates that are based upon strong science and target indications that have significant unmet need."
Pfizer said it plans to spend $6.9-$7.4 billion on research and development in 2015.
Pfizer announced in February 2015 it would acquire drugmaker Hospira for $17 billion.
The history of Pfizer starts right in New York. Charles Pfizer and his cousin Charles Erhart were young entrepreneurs from Germany. Pfizer borrowed $2,500 from his father and purchased a modest brick building in the Williamsburg section of Brooklyn. Their goal was to make chemicals not then produced in the United States.
Their first product, santonin, was used to treat intestinal worms, a common affliction in mid-19th century America, but its taste was so bitter, few people would swallow it. Combining their skills, Pfizer, a chemist, and Erhart, a confectioner, blended santonin with almond-toffee flavoring and shaped it into a candy cone. An immediate success, the "new" santonin was soon in great demand - and Charles Pfizer & Company was launched.
Within a decade, raw materials from around the world were pouring into the young company and more than a dozen chemicals were pouring out. As their business prospered, the cousins bought 72 acres surrounding their building, and, in 1857, established an office on Beekman Street, in the heart of what was then Manhattan's drug and chemical district.
In 1998, Pfizer launched Viagra (sildenafil citrate), a breakthrough treatment for erectile dysfunction.
In 2000, Pfizer would merge with Warner-Lambert. Pfizer would gain product lines ranging from Parke-Davis branded pharmaceuticals to Listerine mouthwash to Schick and Wilkinson Sword wet-shave products.
Pfizer would merge with Pharmacia in 2003.
Pfizer sold its consumer healthcare business in 2006 to Johnson & Johnson for $16.6 billion in cash.
The company acquired Wyeth in 2009 for $68 billion.
In 2012, Pfizer spun off its Animal Health division into a separate company known as Zoetis with its own stock.
The company completed the sale of its nutrition business for $4.8 billion in 2012.
In 2014, Pfizer tried to acquire British pharmaceutical company AstraZeneca for $100 billion but the deal did not go through.
Pfizer offers employees a range of benefit plans and programs. For health care there are many programs, including indemnity and managed care options, as well as dental coverage and vision care packages. Also, the company gives 100% reimbursement for the cost of Pfizer prescription drugs. Newly hired employees can accrue 3 weeks of paid vacation during their first year of service, as well as a number of paid holidays and eligibility for personal days.
Pfizer offers a savings plan that matches dollar-for-dollar for the first 3 percent of contributions and 50 cents on the dollar for the next 3 percent.
The company offers 100% tuition remibursement for eligible degrees and courses with no maximum benefit amount. Children of employees are also eligible for four-year college scholarships.